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Pound rockets across the board as Boris hits stumbling blocks

The Pound has jumped today after British Prime Minister Boris Johnson faced multiple setbacks. Sterling has climbed above the 1.23 interbank threshold against the US Dollar, marking a more than 3.0% rise since the levels seen at the start of the week which registered the weakest figures since 2016. Pound sentiment has increased with each blow to Boris’ plan to take the UK out of the EU without a deal, and Sterling experienced another surge when Jo Johnson, Boris’ brother, announced he was quitting the party. The Pound rallied to a five-week high and put in its best two-day performance in six months to gain nearly four cents. 

Jo Johnson Tweeted: 'It’s been an honour to represent Orpington for 9 years & to serve as a minister under three PMs. In recent weeks I’ve been torn between family loyalty and the national interest - it’s an unresolvable tension & time for others to take on my roles as MP & Minister. #overandout'

If you’d like to take advantage of this positive market shift or talk to our Dealing team about locking-in an exchange rate, call your Dealer or contact us on +44 (0)20 7989 0000. 

Interbank highs so far today:

GBP/USD – 1.2347

GBP/EUR – 1.1172

GBP/AUD – 1.8111

GBP/NZD – 1.9321

GBP/CAD – 1.6292

GBP/NOK – 11.0986

GBP/SEK – 11.9301

GBP/DKK – 8.3342

GBP/CHF – 1.2138

GBP/HKD – 9.6750

GBP/SGD – 1.7087

GBP/ZAR – 18.2828 

GBP/JPY – 131.593

(Correct as of 11:51am)